Section 1 of chapter 150A of the General Laws, as appearing in the 2010 Official Edition, is hereby amended by inserting, at the end thereof, the following language:-

No municipality shall be prohibited from adopting a bylaw or ordinance to create and appropriate to local reserve accounts sufficient monies to fully fund municipal labor contracts and to limit the authority of local executive officers to offer increased expenditures in wages and benefits to 2.5% per year or the amount appropriated to the local reserve account, whichever is greater.

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